AutoBeta(AutoBeta.net)11/05 Report--

On November 4, BYD announced the latest sales volume, BYD car sales in October 2020 47,732 vehicles, Year-on-year growth of 16.05%; Among them BYD new energy vehicle sales increased 84.75% year-on-year to 23,217 vehicles, BYD fuel vehicle sales fell 14.17% year-on-year to 24,515 vehicles.

BYD Dynasty series has Qin, Tang, Song, Yuan and Han models, covering fuel vehicles, plug-in vehicles and pure electric vehicles. Han is BYD's latest model, BYD has placed certain high hopes on it. According to data released by BYD, BYD Han sold 1205 vehicles, 4000 vehicles, 5612 vehicles and 7545 vehicles from July to October, respectively, and monthly sales continued to climb.

In response to Han's performance, Zhao Changjiang, general manager of BYD Automobile Sales Co., Ltd., said that Han is the crystallization of BYD's ten-year technology and a good demonstration of China's independent core technology.

BYD Han's main competitor is Tesla Model 3, which has experienced multiple price cuts, reaching a minimum of 250,000 yuan, and is also among the best in sales. Tesla Model 3 sold 11329 units in September, according to the association, and monthly sales remained above 10,000 units for many months.

In response to Tesla's price cuts, Zhao Changjiang said that "Han will definitely not cut prices, because the value of products exceeds the price, including technology, materials and the entire production process costs are very high." It said that car companies including Toyota, Volkswagen, GM and Ford can't make such products now, and even if they do, consumers have questions about them. In addition, whether German, Japanese or Korean electric products mostly do not perform well, this is to find the reason for the product itself.

For Han can surpass Tesla, Zhao Changjiang also gave a positive reply,"I think it is positive, it is very confident." We can look at Huawei in mobile phones, and his Mate series and P series are more than Apple's single products in the Chinese market. I think as Huawei in the automotive industry, BYD will also have such a market performance, but the cycle of mobile phones is one year, and cars may be five years."

In fact, BYD's recent performance is indeed optimistic. The financial report shows that BYD's operating income in the first three quarters increased by 11.94% to 105.023 billion yuan, and the net profit attributable to shareholders of listed companies increased by 116.83% to 3.414 billion yuan, including government subsidies of 1.002 billion yuan. In addition, BYD's share price has grown for several days and currently has a market capitalization of 504.2 billion yuan, second only to Tesla and Toyota among global automakers.

Affected by the policy, BYD has indeed achieved certain development in the domestic new energy automobile market. However, in terms of brand effect, BYD does have a certain distance compared with Tesla. Tesla, as an American car brand, is still slightly high-end in the eyes of consumers, and buyers are more inclined to foreign brands.

As far as Han models are concerned, the continued rise in sales in recent months does reflect some recognition by the market, but whether it can continue to grow in the later period still needs to be tested by the market. At the same time, with Tesla localization and more models put into the domestic market, BYD's subsequent development still has a lot of pressure.

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